Finland's third-biggest telecom operator DNA said it expects to raise up to 518 million euros ($555 million) in an initial public offering, after setting a preliminary price range for one of Finland's biggest listings in a decade.
The price for the offering that starts on Tuesday would be set at between 9.85 euros and 11.15 euros per share, the company said on Monday.
A listing of DNA is one of Finland's largest since the float of oil refining company Neste Oil Oyj which raised $745 million in 2005.
The company's largest owners, former local phone carriers, will sell up to 36 million existing shares and the company will issue new shares worth 50 million euros.
DNA, which is scheduled to list its shares on the Helsinki bourse on Dec. 2, said it estimates its market capitalisation to be in range of 1.30 to 1.47 billion euros following the offering.
DNA - a rival to Elisa and Telia - recorded a turnover of 829 million euros and an operating profit of 73 million euros last year, compared to sales of 832 million euros and an operating profit of 26 million euros in 2014.
Source: http://www.reuters.com/article/dna-finland-ipo-idUSL8N1DF6CS?rpc=401